KPMG Releases Report on San Diego Controls

KPMG says that a lack of controls and ineffective oversight are to blame for the problems that have haunted San Diego’s financial statements.

According to the San Diego Union-Tribune, a draft version of KPMG’s final audit report said that the firm found that the city “had inadequate policies, procedures, internal controls and personnel to ensure that an accurate and reliable Comprehensive Annual Financial Report was prepared and reviewed on a timely basis.”